Fundamentals of Space Insurance

This article provides a concise overview of space insurance, with a focus on satellite first-party property coverage. It touches upon the three main phases of the lifecycle of a satellite (pre-launch, launch, and in-orbit) and examines the core structure and substance of a typical space insurance policy. This article also considers the types of losses that a satellite may suffer in outer space and offers a holistic analysis of how space insurance claims are handled. While space law often tends to attract academic analysis, this article seeks to clarify the practical aspects of space insurance, particularly for those less familiar with this specialised field.